LONDON--(BUSINESS WIRE)--Quantzig is one of the world’s foremost providers of advanced data analytics solutions with business units spread globally. Our advanced analytics solutions and domain expertise empower us to look for insights in complex, unstructured data sets from disparate sources. With the new digital economy creating significant disruptions and new opportunities, our global team of over 550+ analytics experts work with leading companies to help master digital transformation, drawing on our deep domain expertise and understanding of factors impacting business growth. Our insights have helped leading Fortune 500 companies achieve better success rates by adopting the right technology and digital solutions to drive innovation and competitiveness. Request a FREE one-on-one platform demo to learn how our solutions can be tailored to your specific business requirements.
Engagement Overview:
Pharmaceutical industry players can drastically improve their understanding of what drives their customers’ buying decisions by leveraging advanced analytics for demand forecasting, combined with a robust pricing strategy, a method used by most of the businesses to aptly price their products/services taking into account expenses such as manufacturing, packaging and shipping, marketing, and adding a profit margin to it. An API manufacturer collaborated with Quantzig to leverage its expertise in pharmaceutical pricing to redefine their pricing strategy in the USA.
Get your FREE customized proposal to know how we can help you to redefine your pricing strategy across the globe.
The Problem:
The client is an European API manufacturing company based out of Germany, well-known for manufacturing biologically active pharmaceutical drugs. This API manufacturer was looking forward to launching a new line of products in the USA. The client was facing difficulties in devising a pharmaceutical pricing strategy. The client wanted to accomplish the following goals –
- Devise a value-based penetration pharmaceutical pricing strategy for launching their product line in the US
- Derive a drug price benchmarking model for the US market
- Analyze the competitive landscape in the pharmaceutical industry
To devise a value-based pricing strategy for your business request for more info.
Value Delivered:
The experts at Quantzig conducted a holistic research to understand the client’s competition and their pricing strategy (drug price benchmarking), while taking into account the hidden factors that could impact the product’s price. Quantzig’s pricing analytics solutions curated for the pharmaceutical industry enabled this API manufacturer to –
- Save US $12,00,000 by implementing advanced drug price benchmarking
- Drive sales and obtain a higher return on investment
- Improve drug pricing transparency
- Redefine their pricing strategy across the globe
“A pharmaceutical pricing strategy revolves around a solid understanding of the complete decision-making process. Armed with data-driven insights, our pharmaceutical clients execute value-driven drug price benchmarking to optimize profits,” says a pricing analytics expert from Quantzig.
Over the past 15 years, Quantzig has helped Fortune 500 companies solve some of the toughest business problems using a unique combination of design thinking frameworks, plug-and-play innovation accelerators, and an army of agile decision scientists. Want to know more? Contact us for a free pilot.
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
